Opinion – Monday 13 June 2016

Risk markets have had their worse 48 hours trading in four months. The latest UK Independent Poll shows the ‘leave’ voters now at 55% and this has helped the Cable which is the GBP/USD rate to trade back below 1.42 at 1.4180 while EUR/GBP is back trading...

Opinion – Friday 10 June 2016

I should have titled yesterday’s Daily Commentary ‘Rebel Rebel’ in yet another homage to David Bowie. Rebel One being BTMFJ who were reported to be on the verge of rescinding their JGB Primary Dealership and Rebel Two being Commerzbank, reported to be considering...

Opinion – Thursday 9 June 2016

As Central Banks in both New Zealand and Australia resist the pressure for still lower Interest Rates in part in evidence that both of their respective housing markets are in rude health that further easing risks usurping the success of macro-prudential to date to...

Opinion – Wednesday 8 June 2016

The perception of a lower for longer Fed has slowly but surely brought back an improvement in risk sentiment. Global equities had another positive trading session yesterday as oil prices edged higher while risk sensitive currencies have again outperformed with the AUD...

Opinion – Tuesday 7 June 2016

In a cautiously optimistic speech, Fed Chair Janet Yellen said that she still sees the need for a gradual policy tightening, but walked away from her previous timing guidance that a rate increase would be appropriate over the coming months. Ms Yellen acknowledged the...

Opinion – Monday 6 June 2016

There is no doubt that whichever way you cut it, last Friday’s Non-Farm Payrolls was a shocker. Looking at the spectrum of forecasts ahead of the release, the 38K print for May was 52K lower than the lowest forecast surveyed by Bloomberg while consensus was at...